Author: FX
USD/JPY PRICES, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free JPY Forecast Most Read: Japanese Yen Dips as Treasury Yields Climb Ahead of Ueda Testimony. Higher USD/JPY?USD/JPY FUNDAMENTAL BACKDROPUSD/JPY had a brief push above resistance at the 134.50 level in the Asian session. The rally last week is now showing signs of exhaustion with the dollar index struggling to maintain its recent bullish momentum.Geopolitical risks have gained steam over the weekend with North Korea firing ballistic missiles toward eastern waters overnight following on from Saturdays ICBM launch. Saturday’s launch landed off Japan’s west coast and prompted joint drills…
The inflation data for the U.S. came in hot last week, but not as bad as feared. The fight against inflation is not over yet so the market understands that rate cuts are not on the table. As a reaction, the U.S. dollar strengthened. This week we have a light calendar with a bank holiday in the U.S. and Canada. On Tuesday we have the monetary policy meeting minutes for Australia; some PMI’s for the eurozone, the U.K and the U.S.; and the CPI data for Canada.This will be followed Wednesday with the wage price index q/q print in Australia;…
Share: USD/JPY lacks any firm directional bias and oscillates in a narrow trading band on Monday. Geopolitical tensions, recession fears benefit the safe-haven JPY and cap gains for the pair. Hawkish Fed expectations continue to underpin the USD and should help limit any downfall. The USD/JPY pair struggles to gain any traction on Monday and seesaws between tepid gains/minor losses through the early European session. The pair is currently placed just above the 134.00 round figure and for now, seems to have stalled Friday’s modest pullback from a nearly two-month high. Against the backdrop of looming recession risks,…
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 17, 2023. REUTERS/Staff/File Photo A look at the day ahead in European and global markets from Anshuman Daga Asian shares edged up from their lowest levels in about one month but trading was slow ahead of minutes of the last Federal Reserve meeting and a reading on core inflation, with rising interest rates still seen as a risk for markets. In Europe, money markets show that investors are already betting on a peak European Central Bank rate around 3.75% by late…
US Dollar, USD, DXY Index, Fed, TIPS, Yields, ECB – Talking PointsUS Dollar resumed strengthening last week on Fed hawkishnessTreasury and real yields appear to be lending USD support for nowToday’s US holiday is ahead of some crucial US data later in the week Recommended by Daniel McCarthy Traits of Successful Traders The US Dollar has started the week slightly firmer as the markets contemplate a Federal Reserve turning more hawkish at their Federal Open Market Committee (FOMC) meeting in late March.The possibility got legs after Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard made hawkish…
Hoping to catch some big moves and swing setups? It’s not too late to ride the momentum on gold, GBP/NZD and CAD/JPY this week! Take a look at these long-term inflection points I’m watching: Gold (XAU/USD) Weekly Chart by TradingView Heads up, gold bugs! Bearish vibes seem to be returning for the precious metal, as price is forming a descending channel on its weekly time frame. Resistance around the $1,900 mark kept gains in check, putting gold on track towards testing nearby support zones. Sellers might be setting their sights on the mid-channel area of interest around $1,750 or the…
The RBNZ is expected to raise rates this week while the FOMC meeting minutes could confirm the likelihood of the return of 50bps rate hikes. A new set of PMI reports from the U.S., Australia, Japan, and Europe should also give clues on the pace of global economic recovery. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched potential market movers this week: Major Economic Events: Global PMI reports – This week’s parade of manufacturing and services PMIs should give us a…
It was a subdued range-bound day across major FX ahead of the US market holiday today, Monday. The NYSE and Nasdaq are both closed, as is the bond market. USD/JPY traded higher to begin the session, topping out circa 134.50-odd before slipping back to circa 134.30 as I post. EUR/USD drifted lower initially before it too retraced somewhat. News flow was very sparse. There were no data releases of note.In China we had the monthly setting of Loan Prime Rates. Last week we had the latest medium-term Lending Facility (MLF) at an unchanged rate. This was strongly suggestive of no…
Market trends are often identified based on a consistently rising or dropping swing high or swing low. Price action traders identify uptrends based on rising swing highs and downtrends based on dropping swing lows. Although this method can be very effective, newer traders may struggle to objectively identify trend direction based on swing highs and swing lows. The strategy discussed below uses an indicator which objectively identifies trend direction based higher highs and lower lows. Aroon Indicator The Aroon Indicator is a momentum technical indicator which was developed by Tusar Chande in 1995. This indicator was created to help traders…
There are several ways to trade the forex market based on the duration of each trade. Scalpers trade based on minute charts with trades that last only for a few minutes. Day traders on the other hand trade on 5-minute up to 30-minute charts with trades lasting from a several minutes to several hours but never more than a day. Swing traders on the other hand trade on higher timeframes such as 1-hour charts up to daily charts and would hold trades for several days even up to more than a week. Position traders on the other hand would hold…